Nov 132015
 

insuranceIn this article Auckland Valuer Paul Nilsson questions whether jewellery valuers have kept up with changes to domestic insurance policy wordings as they apply to jewellery.

Most Valuers would agree that when they write an insurance valuation on a piece of jewellery for a consumer their primary objective is to protect the owner.
Here are two scenarios where that objective may not have been met.
Consumer A had an estate diamond brooch professionally valued at $6000 and listed separately on their insurance policy for that amount. A year later they lost it and discovered it would cost $12,000 for the new replacement their policy entitled them to. However the insurance contract meant that the settlement was limited to the specified amount of $6000. Their Valuer had unfortunately only valued the brooch at its second-hand value.
Consumer B inherited their mothers’ engagement ring and had it valued for $2,000 and listed on their policy. When they made a claim 5 years later they discovered their policy only entitled them to a $400 pay out. The Valuer had valued it for replacement with a new one but their policy was for market value (indemnity value) not replacement.
More about these two scenarios later. Continue reading »

Jan 192011
 

This study was developed to enhance the understanding of the various levels of the retail market.

  • There are many markets available to the consumer for purchasing jewelry and gemstones at retail.
  • There are specific and stratified retail markets available to gemologists and appraisers.
  • This article covers High-End Guild stores, Kiosk jewellery sellers and everything in between. Continue reading »
Nov 232010
 

If you do what I do for a living (that’s value jewellery, NOT write blogs) you’re loathe to tell this to people in social situations. I normally say “I’m in the jewellery trade” and hope they don’t press me. If I say that I value jewellery you normally see the eyes light up and then something shiny is dangled before me with the inevitable question “how much is this worth”. The thing is, I could give you four or five different answers, all being correct, depending on the context.

By the way I’m only joking. I tell people all the time what I do. How would you expect me to get any work otherwise! Continue reading »